Post-Icahn Battle, Lionsgate Sets AGM For September


As Carl Icahn continues to build his stake in Lionsgate, the mini-major schedules its 2011 annual shareholders meeting for September 13 in Toronto.

TORONTO -- With Carl Icahn’s unsuccessful battle to win control of Lionsgate over, the mini-major returned to scheduling its annual shareholders meeting in September, coinciding with the Toronto International Film Festival.

Vancouver-based Lionsgate in an SEC filing Friday said its next shareholders meeting will be held on September 13 in Toronto, and with its current 12-member boardroom up for re-election.

That’s in contrast to last year when a bitter proxy battle waged by Icahn, Lionsgate’s largest shareholder, led the mini-major to delay its shareholders meeting to December, and in sunny Los Angeles.

Icahn has gone quiet on the proxy battle front, but is still adding to his stake in Lionsgate.

The activist shareholder bought 702,877 shares in Lionsgate between Wednesday and Friday, putting his holding at just over 33%.

Lionsgate shareholders next month will also be asked to provide an advisory vote on executive compensation at the company.

Lionsgate recently revealed in a separate SEC filing that CEO Jon Feltheimer more than doubled his compensation year-over-year to $7.9 million, while vice chairman Michael Burns more than halved his.